Whether you like it or not, artificial intelligence is here to stay. Find out how you can maximise the use of AI for your business starting this year.
Artificial intelligence (AI) has become an increasingly popular topic since 2022.
It was first discussed within the creative industry as a controversial new player—with AI generating images that are sometimes a near-copy of existing artworks. And it has changed the game for people who need certain images.
They no longer need to scroll down through several web pages to get the results they want. Instead, they simply need to describe the dimensions and features of the exact image they need, and AI can churn it out for them.
Of course, that brought about ethical issues in the creative field.
Regardless of that, however, the world of business cannot escape the exponential development of AI. This is specifically true for the field of marketing.
In fact, Forbes has pointed out that marketing efforts and AI now go hand-in-hand. You can barely see any marketing campaign that does not use any AI-powered solutions in any of its stages.
The thing is, AI is such a helpful tool in increasing efficiency and improving the personalisation of marketing efforts in any industry. That’s why it is necessary for business owners to adapt to the changing times.
That is, if they want to ensure they won’t get left behind.
In this article, we’ll go deep into what artificial intelligence is and how it can be used to drastically improve the marketing efforts of today’s businesses.
3 Key Elements of Artificial Intelligence
Element #1. Big Data Analytics
Today’s marketers have one big challenge to face. And that is to sort through an ocean of data that exists in the digital world.
Marketers need to go through this vast concept of data collection called big data in order to use relevant data in their marketing campaigns. Understanding what data they can and cannot use is essential to ensuring they can release effective campaigns that’ll drive revenue and growth.
But doing this is such a daunting task. It can be overwhelming to sort out so much data which mostly does not hold value for them.
Thankfully, AI is equipped to handle such large amounts of data. Using AI-powered analytics, marketers can process the collected data and give them better insight into the buying behaviours of their target customers.
This can result in spot-on marketing efforts that can increase engagement and conversion rates.
Element #2. Machine Learning
AI-powered marketing solutions are also equipped with machine learning. It’s like having not just an extra set of hands to sift through big data but also an extra powerful brain. And these can help businesses obtain priceless insights for their marketing campaigns.
Using computer algorithms, AI can analyse both historical and new information to guide businesses in making better decisions that produce the best results. With the help of existing information about prospects or the target audience, AI can automatically generate content that is predicted to have the best chances of success within its set parameters.
In other words, using existing data, AI can learn what it takes to drive a successful marketing campaign.
Element #3. AI Platform Solutions
The third key element of AI as it relates to marketing is the availability of AI platform solutions. These solutions consolidate all the features of AI to help in data collection and analysis. And their goal is to be able to provide intelligent solutions within a short period of time
Operational processes and simple tasks can be done with the use of integrated AI platform solutions. At the same time, these platforms can also eliminate expensive and unnecessary activities to deliver the best customer experience possible.
Pros and Cons of Using AI in Marketing
Pro #1. Cost & Time Efficient
AI has been proven to do good at automating repetitive tasks.
This means you and your team no longer need to waste precious time and resources on basic business functions. Some tasks that AI can handle without a hitch include scheduling meetings or organising tracking codes for email blasts.
Having AI do the laborious admin tasks not only saves you time but also money.
It can also help streamline your workflows and allow your team to work on more valuable tasks that will ultimately help your business. Such tasks include corresponding with stakeholders, brainstorming new ideas to further the business… and even getting enough rest.
Pro #2. Provides Clear Data Insights
As mentioned, AI has the power to sift through big chunks of data without breaking a sweat. This is a good perk for any business that needs accurate data insights that they can leverage in their industry.
Thanks to machine learning algorithms, you can use the information from big data to better your reach and customer service. Getting AI to provide you with clear insights that help identify trends allows you to steer your business towards success faster than ever before.
Pro #3. Can Improve the Creative Process
Every business knows that content is king. And these days, AI can help improve the content marketing efforts of your business in two ways.
First, using AI solutions, you can generate images and create stunning graphic designs that attract customers.
Second, some AI-powered tools can churn out quality copy that speaks to your ideal target customer.
Through this, your creatives team can also streamline their workflow, which will make it easier for them to work on more (and more important) tasks like editing and refining their work.
Pro #4. Can Provide Hyper-Personalisation
One of the most important analyses that AI provides businesses is their insight into buying behaviour.
AI platform solutions can enable marketers to hyper-personalise their marketing strategies based on various factors. These include geographic location, past purchases, interests, and browsing history. Businesses can also use the same factors not just in marketing existing products but also in creating or improving their product lineup.
At the same time, AI can give real-time insights into what customers are saying about a particular business. This helps in improving overall service and mitigating issues that may arise from handling or distribution.
This hyper-personalisation is mostly used by marketers to create better messaging across channels.
No longer do businesses need to rely on generic messaging to attract new customers. Instead, they can send out highly relevant messages to the right people at the right moment. In doing so, businesses get to respond faster to the changing needs and trends of the market.
Through this hyper-personalisation, AI can also help businesses identify potential customers based on data like past purchases, demographics, and location.
Pro #5. Can Help Generate More Revenue
The biggest benefit of enlisting the help of AI is that it can help businesses generate more revenue. By providing clear insights, hyper-personalisation, and an improved creative process among others, AI can significantly boost a company’s earnings.
If used right, AI can help businesses tap unknown markets or scale their business faster than if they attempted to do it on their own.
Of course, the use of AI still has some downsides. These include the following:
Con #1. The Necessity of Human Intervention
The creative minds of science fiction writers have led us to believe that technology will ultimately take over human society. And that robots and artificial intelligence would take away all of the human jobs.
But the good news is that humans will always be a necessary component in the age of AI… at least when it comes to marketing. After all, changing our minds, using our imagination, and even making creative decisions are all part of human nature.
Because of this, human intervention is necessary when it comes to the use of AI.
Yes, AI can help make things go faster or complete laborious admin work. But it still does not have a human heart and mind.
The necessity of human intervention is more evident when it comes to creative work. Many AI tools can whip up accurate or factual articles and write-ups… but they sorely lack wit, cultural references, and other forms of creativity.
So the more nuanced your niche or topic is, the more that you would need a team member to do the work for you.
AI can only do so much in terms of marketing. We, humans, are still at the centre of it all.
Con #2. Humans Often Do Not Like Talking to AI
Since we’ve already established that humans remain the centrepiece of the marketing world, this is also true when it comes to customer relationships.
AI-powered chatbots can answer simple customer queries and concerns. But if you’ve ever had to talk to a chatbot in addressing your concerns, you’ve probably experienced the frustration of such bots not having the right answer to your concern. Hence, the need for human intervention.
At the same time, many people simply do not like talking to AI. The reason for this is that human interaction provides not just solutions but empathy for the troubles that are hounding others.
And for businesses… This human touch is often necessary to create lasting customer relationships.
Con #3. Algorithms Can Be Flawed
It’s hard to imagine computers making mistakes. But it’s true.
Mathematically or technically, artificial intelligence could always be right. But humans operate beyond simple formulas and statistics. Humans have a variety of tastes and preferences that cannot be boxed into numbers or algorithms.
There are always outliers, and no computer can account for such things all the time. Hence, such algorithms that are used by AI could be flawed.
Con #4. Possible Neglect of Qualitative Metrics
Since AI works only with big data and numbers, it can become overly reliant on qualitative metrics when making recommendations about marketing campaigns.
This means they’ll only work within the parameters of measurable results, which is not really bad. The problem with this approach is it tends to be narrow-minded.
Marketers then need to also be aware of qualitative metrics that have an impact on the performance of their campaigns. These qualitative factors can include customer satisfaction or brand loyalty.
If your marketing team does not take qualitative metrics into consideration, you could be missing out on important insights that can increase revenue. Having such tunnel vision can even cause businesses to do activities that might not benefit them in the long run.
Overreliance on technicalities ultimately creates formulaic brand identities and campaigns that lack market differentiation.
Start Leveraging AI in Marketing
Artificial intelligence is a great tool that every business owner needs in their arsenal. By using AI-powered solutions, you can take your marketing efforts to the next level.
But always keep in mind that AI is not all-powerful. Humans remain an essential part of the marketing process.
Now, if you need help in maximising the use of AI platform solutions in your business, get in touch with our Automation Agency Heroes. Our experts can help you manage things the right way so you can start growing a successful business today.
